According to analysis, the global space propulsion system market generated $5.63 billion in 2018 and is estimated to grow at a CAGR of 13.06% during 2018-2023. Europe dominated the global space propulsion system market in 2018, whereas, Rest-of-the-World is expected to have the highest growth rate during the forecast period 2018-2023.

The space propulsion system market is expected to witness a high growth rate owing to a significant increase in satellites and launch vehicle manufacturing. Recent innovations in components have enabled the space propulsion system technology to reach to a wider segment of consumers in the industry.

Apart from this, significant investment in the development of cost-effective and efficient propulsion systems is a prominent factor leveraging growth in the market. For instance, NASA awarded contracts to six companies including SSL, Blue Origin, and Aerojet Rocketdyne, among others, with an aggregate worth of $44 million, to develop advanced propulsion system, in August 2018.

Moreover, companies are developing various forms of emerging technologies, such as air-breathing propulsion system, electric propulsion system, and reusable propulsion system, among others, which is expected to propel the growth in the global space propulsion system market.

Topics Covered

1 Market Dynamics

1.1 Drivers

1.1.1 Global Growth in Satellite Launches

1.1.2 Increasing Research and Development Activities to Develop Cost Efficient Propulsion Technology

1.1.3 Increasing Investments in Launch Vehicle Industry

1.2 Challenges

1.2.1 High Cost Involved in the Development of Space Propulsion System

1.2.2 Regulation Pertaining to Space Propulsion System

1.3 Market Opportunities

1.3.1 Ongoing Developments for Nano Material based Space Propulsion System

1.3.2 Propulsion System Manufactured through 3D Printing

2 Competitive Insights

2.1 Key Market Strategies and Developments

2.1.1 Partnerships, Collaborations, and Business Contracts

2.1.2 Product Launches

2.1.3 Mergers and Acquisitions

2.1.4 Other Developments

2.2 Market Share Analysis

3 Industry Analysis

3.1 Emerging Start-ups in Space Propulsion System Market

3.2 Cost Analysis for Space Propulsion System

3.3 Patent Analysis

3.4 Supply Chain Analysis

3.5 Industry Attractiveness

3.5.1 Bargaining Power of Suppliers

3.5.2 Bargaining Power of Buyers

3.5.3 Threat of New Entrants

3.5.4 Threat of Substitutes

3.5.5 Intensity of Competitive Rivalry

4 Global Space Propulsion System Market, 2018-2023

4.1 Assumptions and Limitations

4.2 Market Overview

5 Global Space Propulsion System Market (by Application)

5.1 Market Overview

5.2 Satellite

5.3 Launch Vehicle

6 Global Space Propulsion System Market (by Type)

6.1 Market Overview

6.2 Satellite

6.2.1 Chemical Propulsion System

6.2.1.1 Monopropellant Chemical Propulsion System

6.2.1.2 Bipropellant Chemical Propulsion System

6.2.2 Electric Propulsion System

6.2.2.1 Ion Electric Propulsion System

6.2.2.2 Hall Effect Electric Propulsion System

6.2.2.3 Pulsed Plasma Electric Propulsion System

6.2.2.4 Other Electric Propulsion System

6.2.3 Hybrid Propulsion System

6.3 Launch Vehicle

6.3.1 Solid Propulsion System

6.3.2 Liquid Propulsion System

6.3.3 Hybrid Propulsion System

7 Global Space Propulsion System Market (by End User)

7.1 Market Overview

7.2 Commercial

7.3 Government & Military

8 Global Space Propulsion System Market (by Region)

8.1 Market Overview

8.2 North America

8.3 Europe

8.4 Asia-Pacific

8.5 Rest-of-the-World (RoW)

9 Futuristic Scenario for Space Propulsion System Market

9.1 Upcoming Technologies in Space Propulsion System Market

9.1.1 Ongoing Advancements for Green Propulsion System and Reusable Propulsion System

9.2 Business Outlook for Miniaturized Propulsion System (Micro Propulsion System)